How to use RSI indicator in trading BTC/USD

[veimaralex 83]

RSI is a good indicator because I can see if some currencie or coin is over sold or over buyed, and make decisions based in this indicator combined with other indicators.

[Hear80 122]

It is the first indicator that I have looked more deeply and used to more or less have an idea of whether the asset is overbought or oversold, I use it a lot with Bollinger Bands and if I had to create a Bot I would like at least these two indicators will be combined to execute any buy or sell.

[Dangasa 168]

I am also trader. And I think indicators is not work in the crypto trading. Because I try indicators many time, But it is not work. So I think fundamental analyze is essential of cryto trading. But also you can use technical analyze. 

[Emiperez1209 111]

I have been in this crypto for a short time, but in particular I do not use indicators for the reason that they carry out an operation in which more benefit can be obtained, I use alarms.

[korazon 588]

12 hours ago, Dangasa said:

I am also trader. And I think indicators is not work in the crypto trading. Because I try indicators many time, But it is not work. So I think fundamental analyze is essential of cryto trading. But also you can use technical analyze. 

yes fundamental analysis is important just as its the most basic when things happen unexpected to a company you invest money with. price can suddenly shoot up or dumped hard when news comes up.

[Viscount 1357]

I'm doing some trading but I cannot understand some of things that you're saying. But I'm really glad that I've joined this forum because there are a lot of things that I learn here about cryptocurrency! Also, somehow, this forum became a big help on my trading!

[Froshk 1828]

Tutorials like these are one of the reasons cryptotalk.org is one of the best forum to belong, thanks for these great work @korazone

I have learnt alot. 

Edited November 6, 2020 by Froshk

[Khan 1414]

The RSI indicator is very informative and can be used in different settings but the main settings are the three points, starts, mid and 80 point. It all depends how much space you give to setup before the trading.

[korazon 588]

29 minutes ago, abbie said:

there may be premium kind of indicators or free indicators but still one can't predict the trading of assets which might go up and down we should trade wisely by investing our little amount of capitals and it is a big ocean full of subject so I hope to learn about this indicators thoroughly

There might be something else to learn with the premium indicators. I myself are just using the free ones and even just using default setting of indicators. Hope you find the tutorial useful.

[GanBin 705]

There are many different types of indicators, there are bollinger band, RSI, OM, RMA and EMA and so many others, out of all, maybe because I am still a beginner, I see RSI so useful, very easy to understand and apply while trading. 

[JanBomCrypto 494]

2 hours ago, GanBin said:

There are many different types of indicators, there are bollinger band, RSI, OM, RMA and EMA and so many others, out of all, maybe because I am still a beginner, I see RSI so useful, very easy to understand and apply while trading. 

I think the relative strength index will be the best for beginners, like the Bollinger bands that comes with three lines can be very difficult for newbies to use. 

[yonkii 3205]

On 11/11/2020 at 4:57 PM, korazon said:

There might be something else to learn with the premium indicators. I myself are just using the free ones and even just using default setting of indicators. Hope you find the tutorial useful.

I found your tutorial on RSI very useful, it was presented exactly as I wanted and helped me understand the indicator a lot better than other posts I have read about it. @korazon I would like an explanation though about the current RSI that I read in the weekly for BTC being 94. Isn't this extreme? Can it mean that Bitcoin will start dropping or can it go even higher?

Edited January 3, 2021 by yonkii

[Della Bennet 78]

That is completely new information for me as I am on learning level. I am very enjoying myself to be here to find every new information. This post is also completely new for me as I haven't any idea before it. I am very thankful to all seniors for sharing their great knowledge.

[korazon 588]

Just to update:

 

The market in the weekly chart had bottomed already but the market will probably just run sideways after this slight bounce.